From The TSI Trader:
There is no other way to describe silver's price movement of the past 13 weeks other than to call it parabolic. With that in mind, I thought it would be interesting to do a little study of past silver parabolic moves and see if I could get a handle on just how high silver could travel into December before it implodes.
For this study, I have chosen to examine the relative degree to which silver price can exceed its underlying 200-day moving average. This weekly chart of the World Silver Index (XSLV) uses the 40-week moving average as a proxy for the 200-day moving average.
Silver is currently making its 5th parabolic appearance since the secular bull market for gold and silver began in late 2001. The range that silver has been able to soar above its 200-dma in previous parabolic moves, ranged from a modest 21% to a mind boggling 65%.
The rule of thumb for these kind of things is...
Read full article...
More on silver:
What you need to know about buying silver today
Coin dealers are seeing unbelievable demand for silver bullion
Three new reasons to buy silver that many investors aren't aware of
View the original article here
No comments:
Post a Comment